ACN. 000 317 251

Time lodged with ASX: 08.45 am (Brisbane)

MARKET RELEASE 14th October 2014 ROCKLANDS COPPER PROJECT (CDU 100%) CUDECO TO DELIVER 20,000 TONNES OF PRIMARY SULPHIDE ORE TO GLENCORE'S ERNEST HENRY MINE COPPER PROCESSING FACILITY, LOCATED CLOSE TO THE CUDECO ROCKLANDS GROUP COPPER MINE NEAR CLONCURRY IN N.W. QUEENSLAND

CuDeco Ltd has entered into an agreement with Glencore International AG for the supply of an initial 20,000 tonnes of primary sulphide ore for toll-treatment in the Ernest Henry Mine (EHM) processing plant, located approximately 50 Km from CuDeco's Rocklands Group Copper Project. The trial shipment is to evaluate the suitability of Rocklands primary ore for treatment in the EHM mineral processing plant, and the general handling and processing characteristics in a large-scale processing situation.
At the completion of, and/or during the processing of the Rocklands ore, both parties may consider a long term supply of ore from the Rocklands operations. Any future agreements for ore supply and concentrate purchase, will be based on increased mining for supply, in addition to the
3mtpa to be processed at CuDeco's Rocklands mineral processing facility. Delivery of the ore to
EHM site will commence this week.
CuDeco is in the final stages of construction of its 3 million tonne per year, mineral processing facility under a turnkey EPC contract with China State-owned Sinosteel Corporation. Current mining at Rocklands is over 30,000 tonnes per day. CuDeco has the capacity and ability to accelerate the mining from 3mtpa, to supply a further 2-3 million tonnes of ore per annum to third parties. CuDeco only utilises a portion of its 100% owned earthmoving/mining fleet, and at present is mining on a 12-hour, day shift only basis to achieve its required mined tonnes. By
early November approximately 1.2 million tonnes of +3% CuEq ore is anticipated to be stockpiled
for processing.
Future toll processing at EHM will be the subject of a further ore supply agreement between
CuDeco and Glencore.
Under the 20,000 tonne trial ore supply agreement, Glencore has agreed to purchase the copper concentrates under an "Offtake Agreement", based on the ore supplied by CuDeco and processed at Glencore's Ernest Henry Mine processing facility under this agreement.

Unit 34, Brickworks Annex,19 Brolga Avenue, SOUTHPORT 4215
Phone: +617 5503 1955 Facsimile: +617 5503 0288 Email: adm in@cu dec o.c om. au

FIRST SHIPMENT OF NATIVE COPPER AND COPPER IN CONCENTRATES FOR SMELTER TRIALS INCREASES TO 170 TONNES. NEGOTIATIONS UNDERWAY IN CHINA AND KOREA FOR NATIVE COPPER CONCENTRATE OFFTAKE AGREEMENTS.

The first shipment of containers to be exported has now been increased to 170 tonnes of various forms of Copper concentrate, with grades up to 95% Cu. This has now been shipped, initially to China, for testwork in smelters. The Native Copper concentrate has been produced using the company's mobile crushing circuit.
The Company will soon commence crushing through the main crushing circuit to scalp off the oversize +40mm native copper.
On behalf of the Board
-ends

Competent Person Statement

The information in this report insofar as it relates to Metallurgical Test Results and Recoveries, is based on information compiled by Mr Peter Hutchison, MRACI Ch Chem, MAusIMM, a full-time executive director of CuDeco Ltd. Mr Hutchison has sufficient experience in hydrometallurgical and metallurgical techniques which is relevant to the results under consideration and to the activity which he is undertaking to qualify as a competent person for the purposes of this report. Mr Hutchison consents to the inclusion in this report of the information, in the form and context in which it appears.

Disclaimer and Forward-looking Statements

This report contains forward-looking statements that are subject to risk factors associated with resources businesses. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including, but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delays or advancements, approvals and cost estimates.

Due to the high-grade and coarse nature of the native copper concentrate, copper content is determined visually by qualified and experienced geologists. Actual copper grades may vary from those stated and can only be reliably determined using smelting recovery analysis of copper product and waste generated from the smelting process.

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